FONAR Corporation (FONR) 株式分析

企業概要

FONAR Corporation is primarily engaged in the design, manufacturing, sale, and servicing of magnetic resonance imaging (MRI) scanners intended for the detection and diagnosis of human diseases, abnormalities, and injuries within the United States market. The company operates within the Healthcare sector, specifically classified under the Diagnostics & Research industry, which positions it as a key player in medical technology infrastructure. As a publicly traded entity with the ticker symbol FONR, the company maintains a market capitalization of 117.26 百万ドル (1.1726 億ドル) and employs a workforce of 535 人。The annual revenue reported over the trailing twelve months (TTM) stands at 106.03 百万ドル。These valuation figures, particularly a market cap of approximately 1.17 億ドル against revenues of 1.06 億ドル, indicate that the company is a small-cap enterprise operating with a relatively modest scale compared to large-cap medical device manufacturers, suggesting a niche focus within the broader diagnostic imaging landscape.

財務健全性

The company reported a trailing twelve-month revenue of 106.03 百万ドル with a net income of 7.19 百万ドル and an EBITDA of 15.05 百万ドル。The significant disparity between the 1.06 億ドル revenue and the 719 万ドル net income reveals a cost structure where operating expenses, including cost of goods sold and administrative costs, consume a substantial portion of top-line growth before reaching the bottom line. Free cash flow for the period was 2.44 百万ドル, which indicates the company's ability to generate cash from operations after capital expenditures, providing a baseline level of financial flexibility for maintaining existing assets or funding minor operational needs. Profitability metrics show a gross margin of 40.8%, an operating margin of 11.7%, and a profit margin of 7.1%, illustrating that while the manufacturing of MRI scanners retains a healthy markup on individual units, significant operating costs reduce the final return on each dollar of sales. Regarding liquidity and leverage, the company holds 53.10 百万ドル in cash against 39.80 百万ドル in debt, resulting in a debt-to-equity ratio of 24.44, which suggests a balance sheet that is technically leveraged but maintains sufficient cash reserves to cover immediate obligations. The current ratio is an exceptionally high 10.00, indicating that current assets are ten times greater than current liabilities and signaling very strong short-term liquidity positions. Furthermore, the return on equity (ROE) is 6.0% and the return on assets (ROA) is 3.2%, metrics that reveal management's effectiveness in generating profits relative to shareholders' equity and total assets, respectively, though these returns are moderate for the capital-intensive medical device industry.

バリュエーション評価

The valuation of FONAR Corporation can be assessed using a trailing price-to-earnings (P/E) ratio of 16.18, while the forward P/E is listed as N/A, implying that analysts or market participants do not currently project significant earnings expansion that would justify a forward multiple distinct from the trailing one. The price-to-book ratio stands at 0.69, indicating that the market values the company at 69% of its book value, which suggests the stock is trading at a discount relative to the net asset value recorded on the balance sheet. Alternative valuation metrics include a price-to-sales ratio of 1.11 and an enterprise value-to-EBITDA ratio of 6.29, figures that provide context on how the market prices the company's revenue generation and operational earnings power independent of leverage. The stock price has fluctuated between a 52-week high of 18.86 ドル and a 52-week low of 12.00 ドル。Without a specific current price provided in the available facts, the trading range defines the volatility corridor, with the upper bound representing a 34.6% premium over the lower bound. The beta value of 0.99 indicates that the stock's price volatility moves in line with the broader market, suggesting it does not exhibit significant defensive or aggressive characteristics relative to the S&P 500 index.

Growth & Income

Growth metrics for the company show a revenue growth rate of 2.4% year-over-year and an earnings growth rate of 1.1% year-over-year。The fact that earnings are growing at a slower pace than revenue implies that the company is expanding its sales base but facing increasing cost pressures or operating leverage challenges that prevent profits from rising as quickly as top-line numbers. Since the dividend yield is N/A and the payout ratio is 0.0%, the company does not currently distribute cash to shareholders. Instead, the company reinvests its earnings and free cash flow back into the business, likely focusing on R&D for new MRI technologies or market expansion rather than providing income to investors. This retention strategy is typical for small-cap medical technology firms seeking to fund future growth initiatives before they can sustainably support dividend payments. Overall, the company presents a growth profile characterized by modest double-digit expansion in revenue and single-digit earnings growth, coupled with a non-dividend policy that prioritizes capital allocation for internal development over shareholder income distributions.